Stablecoins Reach 44% of Canadian Dollar Crypto Trading, Led by USDC

Stablecoins accounted for 44% of trading volume on Canadian dollar-denominated crypto order books in June 2026, up from 30% a year earlier, as U.S. dollar-backed tokens gained ground in Canada. USDC, a U.S. dollar-backed stablecoin, led the stablecoin category. Tokens pegged to the Canadian dollar drew little trading. Stablecoins made up the largest asset category on those order books, ahead of store-of-value assets such as Bitcoin (BTC). The 44% figure measures volume in crypto trading pairs priced in Canadian dollars. It does not represent stablecoins’ share of all crypto transactions in Canada or USDC’s share of the order books. The year-over-year change shows a shift in the mix of assets traded against the Canadian dollar. Canada’s broader crypto activity grew 2.3% to $247.7 billion from July 2025 through June 2026.

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